Butterfly Seminar – November 13-15, 2015
by Promotions - October 14th, 2015 4:06 pm
Butterfly Seminar:
The seminar is confirmed for this Nov, 13-15 at the Carlysle Hotel (4 star) in Washington, DC. The seminar on Saturday (10am – 4pm) will cover the following:
- How to select 'Butterfly' candidates
- Computing risk/reward
- Responding to market mov't – exceeding short calls/short puts strikes
- Dealing with Black Swan/6 sigma events
- When to hold 'em vs fold 'em.
- Situations/stocks to avoid
- Margin req't calculations
- Special circumstances
In addition, Phil will discuss his Top Picks for 2016.
Cost for the seminar and 2 night hotel stay will be in the $400 range – the more attendees, the lower the cost. Phil is generously donating his time; the costs consist of: the conference room, recording equipment, Phil's travel and living expenses. For those not wishing to not stay in the hotel, the cost will be $100-150. The recording of the seminar – assuming we are able to record it – will be <$75 (equipment costs/quantity). There is the possibility of a poker game and a Sunday brunch for those interested. Friends of PSW members welcome.
This will be one of the most productive seminars you can attend and one of the better investments you can make in… yourself. This is a sound, conservative vehicle that has produced outsized returns on a risk/reward basis.
Hope to see you there!
To indicate your interest in the seminar (hotel & seminar, seminar only, recording), please send us an email here.
Faltering Thursday – Last Chance to Make Strong Bounces
by phil - October 23rd, 2014 7:56 am
We decided to give yesterday a pass.
Though the indexes failed to hold our strong bounce lines (well, 3 of 5 did), we can blame Canada for that one as a gunman shot up Parliament yesterday afternoon and the "terrorist attack" news sent our markets lower. Other than that (and these things are unavoidable when you sell 500M guns to 400M people in North America), it wasn't a bad day for the markets, so we're going to wait and see what actually sticks. Our watch levels remain:
- Dow 16,466 (weak) and 16,632 (strong).
- S&P 1,878 (weak) and 1,903 (strong).
- Nasdaq 4,280 (weak) and 4,360 (strong).
- NYSE 10,360 (weak) and 10,540 (strong).
- Russell 1,104 (weak) and 1,128 (strong).
So the Dow fell almost exactly from it's strong bounce to it's weak bounce yesterday. Aside from confirming the 5% Rule™ is firmly in charge, holding the weak bounce line is bullish – IF it holds. The S&P and Nasdaq held their strong bounce lines (thanks to AAPL) while the NYSE stayed in it's range but the Russell was a big disappointment and failed the weak bounce – a very bad sign if they can't take it back today.
We had a lot of fun playing the Russell Futures yesterday, starting with my too-early short…